Nikola's Strong Momentum: Wholesales 72 Hydrogen Fuel Cell Trucks in Q2 2024
Key Ideas
  • Nikola Corporation surpassed its truck sales guidance by wholesaling 72 Class 8 hydrogen fuel cell trucks in Q2 2024.
  • The company also reported wholesaling 112 hydrogen fuel cell trucks in the first half of 2024, showcasing strong momentum.
  • CEO Steve Girsky highlighted new customers like Walmart Canada and repeat customers, emphasizing the company's dealer network success.
  • Operating from Coolidge, Arizona, Nikola aims to maintain its first-mover advantage in zero-emissions Class 8 trucks in North America with its HYLA hydrogen refuelling solutions.
Nikola Corporation, a key player in the hydrogen fuel cell truck industry, demonstrated robust performance in the second quarter of 2024. The company exceeded expectations by wholesaling 72 Class 8 hydrogen fuel cell trucks, surpassing the high end of their sales guidance which was set at 60 units. This achievement follows the wholesale of 112 hydrogen fuel cell trucks in the first half of the year, indicating a consistent upward trajectory in sales. CEO Steve Girsky expressed satisfaction with the company's progress, noting the acquisition of new prestigious customers like Walmart Canada and the loyalty of repeat customers such as 4GEN and IMC, who continue to purchase vehicles through Nikola's dealer network. All Nikola trucks are manufactured in Coolidge, Arizona, underscoring the company's commitment to American manufacturing. Girsky emphasized Nikola's stronghold in the North American market for zero-emissions Class 8 trucks and highlighted the significance of their HYLA hydrogen refuelling solutions. The company's CEO reiterated their dedication to maintaining a competitive edge and leading position in the industry. While the financial statements for the second quarter of 2024 are pending, Nikola remains optimistic about its future prospects and continued growth in the hydrogen fuel cell truck sector.
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